That whole Allen Greenspan declaring that the US can always print money to pay bills should have everyone on the verge of rioting. Are we as Americans so arrogant that what is going on in the rest of the world will not happen to us? Do we think that there will be no consequences for our actions?

Government debt doesnt just 'go away' you cant declare bankruptcy on it. It stays untill its paid. No, no country is going to invade us to get paid, there is no need. Instead they will just stop trading with us.

Basicly the same policies we put on Greece and any third world countries will come home. Its called Austerity.

While its true that we can inflate our way out of the debt crisis (as we are doing) we must understand that there are very serious consequences for this. Most notibly is the destruction of the middle class and savings. Risk of hyperinflation. And most dangerous is the loss of the dollar as the reserve currency of the world. That would have devistating economic ramifications.

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